Four-Unit Multifamily
For Sale
$995,000
309 W 41st St, Savannah, GA 31401
TN-2-zoned Savannah property near SCAD and downtown with large residential layouts and off-street parking.
Property Size5,358 SF
Price / SF$185.70
Days on Market87
Property Features for 309 W 41st St
General Information
Standard status
Active
Size
5,358 SF
Property subtype
Multi-Family
Zoning
TN-2
Financials
Gross Income
$96,000
Average Monthly Rent
$2,000
Units
Unit Mix
4 x 4BR/1BA
Multifamily Units
4
Building Details
Year Built
1910
Listing Agency:
Bare Real Estate
Listed By:
Daniel Worsley · License #357843
(912) 236-1000
Source:
Barefootbrokers
Added: Jul 22
Changed: Oct 6
Last Checked: Oct 7 at 2:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bare Real Estate
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Investment Insights
Based on property information with market context.
This 5,358-square-foot quadplex, built in 1910, contains four residential units configured with 4 bedrooms and 1 bathroom per unit. The layouts support continued multifamily occupancy, with each residence offering a larger format suited to shared living arrangements. The property also includes a .07-acre off-street parking lot and is located at 309 W 41st St in Savannah’s Starland District.
TN-2 zoning allows continued multifamily use, while the property’s setting places it near SCAD, downtown Savannah, dining, retail, and entertainment. The combination of four-bedroom units, on-site parking, and an established residential configuration provides a clear operating profile for multifamily ownership.
TN-2 zoning allows continued multifamily use, while the property’s setting places it near SCAD, downtown Savannah, dining, retail, and entertainment. The combination of four-bedroom units, on-site parking, and an established residential configuration provides a clear operating profile for multifamily ownership.
Key Highlights
- Four‑unit quadplex with 4 bedrooms and 1 bathroom in each unit
- 5,358 square feet of building area
- .07‑acre off‑street parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,810
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,136,200
$1.1M
Cap Rate 7%
$811,571
$811.6K
Cap Rate 9%
$631,222
$631.2K
Market Conditions
NOI Build-Up for 5,358 SF
Gross rent
$86.8K $16.20/SF
− Vacancy
−$5.6K −$1.05/SF
EGI
$81.2K $15.15/SF
− OpEx
−$24.3K −$4.54/SF
NOI
$56.8K $10.60/SF
Area
Savannah, GA
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,136,200
Cap Rate 7%
$811,571
Cap Rate 9%
$631,222
Alternative Uses
Best Use
Multifamily LT 5
$811.6K
$710.1K – $946.8K
NOI $56,810 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$752.6K
$658.6K – $878.1K
NOI $52,685 @ 7.0% cap · market cap 5.29%
Theoretical Best
Warehouse
$5.01M
$4.38M – $5.84M
NOI $350,518 @ 7.0% cap · market cap 35.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - TN-2-zoned Savannah property near SCAD and downtown with large residential layouts and off-street parking.
Where is this quadplex located?
The property is located at 309 W 41st St Savannah, GA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4 bedrooms and 1 bathroom in each unit; 5,358 square feet of building area; .07‑acre off‑street parking lot
